African Risk Capacity Appoints David Maslo as CEO to Strengthen Climate Resilience Across Africa

The African Risk Capacity (ARC) has officially appointed David Maslo as the Chief Executive Officer of its insurance arm, ARC Ltd., marking a significant leadership transition for one of Africa’s most important institutions dedicated to disaster risk financing and climate resilience.

The appointment comes at a time when African countries are facing increasing threats from climate change, including prolonged droughts, floods, tropical cyclones, disease outbreaks, and food insecurity. As governments continue to grapple with the growing financial impact of these disasters, ARC believes Maslo’s experience will help strengthen the organization’s mission of providing rapid financial support before humanitarian crises escalate.

Maslo had been serving as Interim Chief Executive Officer since June 2025. During his tenure, he guided the organization through one of its strongest periods of growth, delivering record premium earnings and expanding the range of insurance products available to African governments. His leadership also saw the introduction of sovereign flood insurance, an important milestone that broadens the organization’s ability to respond to the changing climate risks facing the continent.

With more than two decades of experience in disaster risk financing and the global insurance industry, Maslo brings extensive expertise in designing innovative financial solutions that help governments recover quickly after natural disasters. Before joining ARC as CEO, he served as Chief Risk Management Officer at the Caribbean Catastrophe Risk Insurance Facility, where he oversaw disaster risk management programs serving countries across the Caribbean and Central America.

Announcing the appointment, the Board of Directors expressed confidence in Maslo’s ability to lead the organization into its next phase of growth. The Board said ARC’s long term ambition is to help close Africa’s protection gap by expanding access to insurance and strengthening the continent’s resilience against climate related disasters and public health emergencies.

Speaking after his appointment, Maslo described the role as both an honor and a responsibility. He said Africa continues to face increasingly complex risks that require faster and more innovative financing solutions. He pledged to work closely with the African Union, development partners, shareholders, and member states to strengthen the organization’s impact across the continent.

“Our focus will be on building a stronger and more impactful African Risk Capacity that helps governments prepare for tomorrow’s risks before they become humanitarian disasters,” Maslo said.

Established by the African Union, African Risk Capacity was created to help member states respond more effectively to climate shocks through parametric insurance. Unlike traditional insurance, parametric insurance provides rapid payouts when specific disaster thresholds are reached, allowing governments to release emergency funds quickly without waiting for lengthy damage assessments.

Over the past decade, the organization has supported numerous African countries by providing financial protection against droughts, cyclones, epidemics, and other climate related emergencies. The model has become increasingly important as climate change continues to increase the frequency and severity of extreme weather events across Africa.

One of ARC’s most notable recent achievements was the launch of Africa’s first sovereign parametric flood insurance product. Madagascar became the first country to adopt the new coverage, providing an additional layer of protection for communities vulnerable to increasingly destructive floods.

Experts believe that expanding innovative financial instruments such as these will be critical in helping African governments reduce disaster response costs while protecting lives, livelihoods, and economic development.

Maslo’s appointment also reflects the growing emphasis on African led solutions to African challenges. By strengthening financial preparedness before disasters occur, ARC aims to reduce dependence on emergency humanitarian assistance and enable countries to respond more quickly and effectively when crises strike.

As climate risks continue to evolve, the success of institutions like African Risk Capacity will play an increasingly important role in safeguarding the continent’s economic stability. Under David Maslo’s leadership, the organization is expected to expand its partnerships, introduce new insurance products, and support more African nations in building resilience against the growing impacts of climate change.